LendingTree (NASDAQ:TREE) Rating Lowered to Hold at Zacks Research

LendingTree (NASDAQ:TREE) was downgraded by Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Tuesday,Zacks.com reports.

TREE has been the subject of a number of other reports. Needham & Company LLC reissued a “buy” rating and issued a $60.00 price target on shares of LendingTree in a report on Friday, May 1st. Truist Financial set a $78.00 price target on LendingTree in a report on Friday, May 1st. JPMorgan Chase & Co. assumed coverage on LendingTree in a report on Tuesday, April 14th. They issued an “overweight” rating and a $50.00 price objective on the stock. Wall Street Zen lowered LendingTree from a “strong-buy” rating to a “buy” rating in a research report on Sunday, June 21st. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of LendingTree in a research report on Wednesday, June 24th. Five analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $68.60.

LendingTree Stock Up 1.2%

NASDAQ:TREE opened at $44.80 on Tuesday. LendingTree has a twelve month low of $32.65 and a twelve month high of $77.35. The company’s 50 day moving average is $39.59 and its two-hundred day moving average is $45.14. The company has a current ratio of 1.89, a quick ratio of 1.89 and a debt-to-equity ratio of 1.27. The company has a market cap of $624.96 million, a PE ratio of 3.48 and a beta of 2.00.

LendingTree (NASDAQ:TREE) last released its earnings results on Thursday, April 30th. The financial services provider reported $1.38 EPS for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.11). LendingTree had a return on equity of 17.01% and a net margin of 15.02%.The firm had revenue of $319.07 million for the quarter, compared to analyst estimates of $321.32 million. During the same period last year, the firm earned $0.99 EPS. The company’s revenue for the quarter was up 36.5% compared to the same quarter last year. Analysts anticipate that LendingTree will post 3.64 EPS for the current year.

Institutional Investors Weigh In On LendingTree

Hedge funds and other institutional investors have recently made changes to their positions in the business. Financial Management Professionals Inc. acquired a new stake in LendingTree during the fourth quarter worth approximately $25,000. Fifth Third Bancorp acquired a new stake in LendingTree during the 4th quarter worth approximately $32,000. OP Asset Management Ltd purchased a new position in LendingTree in the 1st quarter valued at $34,000. Tower Research Capital LLC TRC raised its position in LendingTree by 281.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,120 shares of the financial services provider’s stock worth $42,000 after buying an additional 826 shares during the last quarter. Finally, New York State Teachers Retirement System acquired a new stake in shares of LendingTree in the 4th quarter worth $54,000. Institutional investors and hedge funds own 68.26% of the company’s stock.

About LendingTree

LendingTree, Inc operates an online marketplace that connects consumers with a network of lenders and financial service providers. Through its platform, borrowers can compare loan offers for mortgages, home equity loans, personal loans, student loans, auto loans and small business financing. The company also offers tools for comparing credit cards and deposit accounts, allowing users to research rates and terms from a range of providers in one place.

Founded in 1996 by Doug Lebda, LendingTree pioneered the comparison-shopping model for consumer credit products.